Originally Posted by
Wasatch Phantom
I've been bothered by the tax deductibility of private jets for a long time. In fact it really p*sses me off.
Why should Tiger Woods (for example) get to deduct the cost of flying around in a Gulfstream? He should be able to deduct the cost of a full fare coach ticket. If he wants to fly any thing else: Great he can deduct the full coach fare, and pay the difference out of pocket.
Why should the US taxpayers subsidize the lifestyles of the uber-rich?
With that, I agree, however, why should the owner of a $500K home be able to deduct the mortgage interest (from someone who can't afford one and is only able to deduct interest on a $75K house?).